[FoRK] My sentiments exactly...
Ken Ganshirt @ Yahoo
ken_ganshirt at yahoo.ca
Fri Jan 22 14:56:08 PST 2010
--- On Fri, 1/22/10, mdw at martinwills.com <mdw at martinwills.com> wrote:
> > So it's a person, but with no punishment and no taxes.
> Pure awesome.
> > --
> > Adam L. Beberg
> Not sure I can agree with your last statement... Exxon has paid in excess
> of 4 Billion Dollars to clean up the Valdez and paying various other
> fines and civil penalties.
But what humans were punished in law or civily for that behaviour? The ship's captain got sacked but he was a scapegoat.
> I also remember hearing
> about Arthur Anderson being forced out of business because of the Enron
> debacle and Enron's seniors officers being put in prison...
Arthur Anderson were forced out of business .... well, not really; they were forced to rebrand (cf. Accenture) ... because they crapped in their own nest and nobody would hire them until they changed their name. Simply bad optics. I don't know if any individuals from AA were ever charged. I could look but I don't care.
Enron's senior officers were charged individually with a variety of things. Too bad this doesn't happen more often. It should be, in my view, the default rather than the exception.
I was watching a business report last night in which Warren Buffet was quoted -- regarding situations like GM, Chrysler and the various financial institutions that required bailouts -- as saying that he believes the organizations should fail and the individuals in the C-suite of such failed organizations should be "crushed financially". Brought a smile to my lips. :)
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